just a thought… Ppl shut SIP accounts for various reasons - Could market slowdown be a red herring?
Food inflation has been high of late. Home loan rates have increased. Tenures have also gone up… There have been mass lay-offs in a few sectors. Could this be a possible additional factor? Discretionary purchases are taking a backseat for the middle class…There has been an increase in debt too which might show how ppl are borrowing to spend on basic needs/ pay off loans… ppl could be eating into their savings for buying essentials…
Many reports are highlighting how consumption demand is highly skewed in favour of luxury goods / services- luxury housing, high-end cars (e.g. recent news about DLF & Mercedes) consumed by the elite ultra wealthy group. But the plunging sales of Page Industries highlights the other side of the spectrum & the possible onset of recession (i wasn’t sure of using the dreaded r word but there i used it.)
(further reading: https://edition.cnn.com/2022/03/26/economy/recession-underwear-alan-greenspan/index.html).
refer: What happens to your loan tenure if there is a rate hike?